Thrivent Financial for Lutherans Decreases Stock Holdings in PACCAR Inc. $PCAR

Thrivent Financial for Lutherans lessened its holdings in PACCAR Inc. (NASDAQ:PCAR) by 50.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,506 shares of the company’s stock after selling 24,216 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PACCAR were worth $2,234,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PCAR. Hazlett Burt & Watson Inc. boosted its position in shares of PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after purchasing an additional 105 shares in the last quarter. Intellectus Partners LLC increased its stake in PACCAR by 1.0% in the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock valued at $1,015,000 after purchasing an additional 109 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in PACCAR by 1.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock worth $917,000 after purchasing an additional 116 shares in the last quarter. Finally, Hamilton Capital LLC lifted its position in shares of PACCAR by 3.4% during the 2nd quarter. Hamilton Capital LLC now owns 4,052 shares of the company’s stock worth $385,000 after buying an additional 132 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 1.0%

PACCAR stock opened at $111.72 on Wednesday. The stock has a 50 day moving average of $102.92 and a two-hundred day moving average of $99.35. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $115.43. The stock has a market capitalization of $58.68 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 15.43 and a beta of 1.01. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the previous year, the firm posted $1.85 EPS. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. As a group, research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. PACCAR’s dividend payout ratio is presently 25.83%.

Analyst Ratings Changes

PCAR has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of PACCAR from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $108.00 to $133.00 in a research note on Friday, December 19th. Wall Street Zen cut PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Sanford C. Bernstein reissued an “outperform” rating and issued a $125.00 target price on shares of PACCAR in a report on Friday, December 5th. Morgan Stanley set a $90.00 price target on PACCAR in a research note on Tuesday, October 21st. Finally, Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and an average target price of $111.04.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This trade represents a 87.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.02% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.